The S&P 500 Index, managed by S&P Global Dow Jones Indices, lists some of the largest companies on the planet, and is reportedly mulling changing its rules for entry into the index as Elon Musk-led commercial space flight giant SpaceX gears itself up for an IPO this year.
The index is mulling changing the rules governing how companies are allowed to join in, Bloomberg reported on Thursday, citing anonymous sources familiar with the matter. An expedited entry into the fund could see billions in forced buying of SpaceX stock, as funds tracking the index must buy shares of newly-added companies, the report said.
S&P Global and SpaceX didn’t immediately respond to Benzinga‘s request for comment.
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The index was in talks with parties to see if there was interest in such a rule change, but it was still some time away and awaits a formal consultation. The…
